B&M up for sale

Monday 01 October 2012 - Editorial Assistant

Lancashire-based variety retailer B&M has been put on the market following its crowning as Britain’s fastest-growing retailer, it has been announced.

Owned by ex-Barclays executive Simon Arora and his two brothers Bobby and Robin, the discount retailer has seen stunning growth since the family bought it in 2005, opening stores at a rate of one a week according to The Telegraph.

Should a sale go ahead, the Arora brothers would be catapulted to the height of the UK’s rich lists with claims that the retailer could sell for up to £850 million.

Commenting on the claims, an unnamed company source told Retail Gazette: “We cannot comment on press speculation but can confirm that the existing shareholders and management are not exiting the business under any circumstances.”